Global Patient Monitoring Devices Market Size 2024, Forecast To 2033
17 Jan, 2024
The patient monitoring devices market has demonstrated robust growth, increasing from $26.24 billion in 2023 to $28.77 billion in 2024, featuring a 9.6% CAGR. Historical expansion is attributed to an aging population, stringent regulatory compliance, the management of chronic diseases, healthcare reimbursement dynamics, and the burgeoning hospital-at-home trend. Expecting sustained growth, the market is projected to reach $40.65 billion in 2028, reflecting a 9.0% CAGR. Anticipated growth is fueled by the proliferation of telemedicine and remote monitoring, the integration of artificial intelligence (AI), a heightened emphasis on personalized and connected healthcare, the expansion of emerging markets, and the evolution towards value-based care. Key trends include the increasing prominence of wearable health monitors, the growth of remote vital signs monitoring, the proliferation of mobile health apps, the application of predictive analytics, and the increased availability of home health monitoring kits.
Global Patient Monitoring Devices Market Key Driver
The patient monitoring device market is poised for growth due to the increasing prevalence of chronic diseases. Patient monitoring devices play a crucial role in managing long-lasting health conditions, projected to affect 142.66 million individuals aged 50 and older in the U.S. by 2050. Hence, the market is expected to flourish.
Get A Free Sample Of The Global Patient Monitoring Devices Market ReportGlobal Patient Monitoring Devices Market Segments
The patient monitoring devices market covered in this report is segmented –
1) By Type: Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables
Subsegments Covered: Fetal Monitoring Devices, Neonatal Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Parameter Monitors And Other End Users
By Geography: The regions covered in the patient monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the global patient monitoring devices market in 2023. North America was the second-largest region in the global patient monitoring devices market. The regions covered in the patient monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Patient Monitoring Devices Industry Players
General Electric Company, Koninklijke Philips NV, Dragerwerk AG & Co KGaA, Cardinal Health Inc., Masimo Corporation, Medtronic plc, Edwards Lifesciences Crop., Flex Ltd., Nihon Kohden Corporation, Abbott Laboratories, Johnson & Johnson, Siemens Healthineers AG, Becton, Dickinson and Company, Cardinal Health Inc., Baxter International Inc., Boston Scientific Corporation, Danaher Corporation, 3M Company, Hill-Rom Holdings Inc., Terumo Corporation, Smith & Nephew plc, B. Braun Melsungen AG, ResMed Inc., Dexcom Inc., Fresenius Medical Care AG & Co. KGaA, Getinge, Mindray Medical International Limited, Nihon Kohden Corporation, Spacelabs Healthcare LLC, Nonin Medical Inc., OSI Systems Inc., Schiller AG, Welch Allyn Inc., OMRON Healthcare Co. Ltd.
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Patient Monitoring Devices Market Overview
Patient monitoring devices are machines that are used to constantly monitor patients through various vital signs and warning systems to detect and record changes in patient health conditions.
Patient Monitoring Devices Global Market Report 2023 provides data on the global patient monitoring devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The patient monitoring devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.